The Manufacturers Life Insurance Company Raises Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

The Manufacturers Life Insurance Company raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 71.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,011,752 shares of the credit services provider's stock after buying an additional 1,253,652 shares during the period. The Manufacturers Life Insurance Company owned about 0.30% of PayPal worth $257,053,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PYPL. Park Place Capital Corp grew its stake in shares of PayPal by 6.6% in the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider's stock worth $161,000 after buying an additional 116 shares during the last quarter. Rosenberg Matthew Hamilton boosted its stake in PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock worth $26,000 after purchasing an additional 125 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in PayPal by 33.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider's stock worth $43,000 after purchasing an additional 125 shares in the last quarter. Wynn Capital LLC grew its position in PayPal by 1.1% during the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider's stock valued at $983,000 after purchasing an additional 130 shares during the last quarter. Finally, Avalon Trust Co raised its holdings in PayPal by 7.0% in the fourth quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider's stock worth $176,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

Insider Buying and Selling

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares of the company's stock, valued at $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on PYPL. Evercore ISI initiated coverage on PayPal in a research note on Wednesday, April 9th. They set an "in-line" rating and a $65.00 target price on the stock. BMO Capital Markets reduced their price objective on PayPal from $83.00 to $79.00 and set a "market perform" rating for the company in a report on Wednesday. Morgan Stanley upped their target price on shares of PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Seaport Res Ptn lowered shares of PayPal from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 17th. Finally, Monness Crespi & Hardt decreased their price objective on shares of PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.72.

PayPal Stock Performance

Shares of NASDAQ PYPL traded down $0.43 during midday trading on Thursday, reaching $65.41. The company had a trading volume of 10,042,668 shares, compared to its average volume of 11,319,835. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The business's 50-day simple moving average is $66.08 and its 200 day simple moving average is $78.30. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $63.93 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. During the same period in the prior year, the company earned $1.08 earnings per share. The company's revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

PayPal Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.